Announcements 2008

Waterval Project Resource Calculation/Update on Uranium Projects

12 February 2008

Waterval Project

Western Uranium (Pty) Ltd ("Western Uranium"), a 49 per cent. owned associate company of Brinkley Mining, has informed the Company of the initial Mineral Resource calculation in respect of the Waterval Project in South Africa ("Waterval").

The Mineral Resource calculation was carried out by SRK Consulting Engineers and Scientists ("SRK"). SRK reported an Indicated and Inferred Resource of 933,800 tonnes at a grade of 0.35kg/tonne U3O8, equivalent to 721,700 lbs U3O8 (as detailed in the table below). The Mineral Resources developed at Waterval have been classified in accordance with the definitions and guidelines of the SAMREC Code and shown below in compliance with the AIM Guidance for Mining Companies.

Classification Horizon   Tonnes     Tonnes      kg/tonne     Width     lb U3O8
                         (kt)        U3O8       U3O8         (m)       ('000)
Indicated      H2
               H3         527.1      185.5         0.35     1.25         409.1
Total                     527.1      185.5         0.35     1.25         409.1
Indicated
Inferred       H2          26.7        6.1         0.23     0.91          13.4
               H3         380.0      135.7         0.36     0.76         299.2
Total Inferred            406.7      141.8         0.35     0.77         312.7
Grand Total               933.8      327.4         0.35     1.04         721.

Waterval: Western Uranium Gross Mineral Resource Calculation (based on a 0.15 kg /tonne cut-off)

Based on Brinkley Mining's current interest of 49 per cent. in Western Uranium (with an option to increase its interest in Western Uranium to 75 per cent.), Brinkley Mining's attributable share of the Mineral Resources amounts to an Indicated and Inferred Resource of 457,562 tonnes at a grade of 0.35kg/tonne U3O8, equivalent to 353,633 lbs U3O8.

This Mineral Resource Calculation is based on the results from an exploration programme which commenced in May 2007. The exploration programme was concluded in October 2007, and consisted of field mapping, drilling and down-the-hole geophysical surveys. A total of 187 holes were drilled for 15,123 metres and 279 historic holes were surveyed by geophysical methods.

Five mineralised horizons have been identified within the prospect. Horizons H2 and H3 are the most significant and had sufficient data for Mineral Resource estimation. For these two horizons three-dimensional Datamine block models were constructed. GAP Geophysics mapped uraniferous palaeochannel intersections from surface to a depth of approximately 45 metres. Both spectral and total gamma-ray tools were used. Based on GAP Geophysics' recommendations, radiometric data was used as a proxy for core assays and in estimating grade values into the geological model and deriving a Mineral Resource estimate. The Mineral Resource is contained within a sequence of palaeochannels which at their widest are 350 metres and extend for approximately 1,400 metres (as illustrated in the Appendix).

The Company had previously identified a number of additional target areas within the Waterval area using airborne radiometric data and is currently assessing if these areas represent targets suitable for further exploration following which the Company will decide how to proceed with its Waterval licence area. To date Western Uranium has expended approximately ZAR30 million (equivalent to US$4 million) on the Waterval exploration programme representing a discovery cost of ZAR42 per pound U3O8 (equivalent to US$5.5 per pound of U3O8).

Update on Uranium Projects

Western Uranium believes that large areas of the Rietkuil Channel on the Beaufort West escarpment in the Karoo District of South Africa still remain to be prospected for uranium and accordingly, Western Uranium has recently submitted applications to the Department of Minerals and Energy ("DME") for an additional 5 prospecting licences over an area in aggregate of approximately 4500km(2).

As previously announced, Western Uranium's applications over the Damsfontein and Bloemfontein areas of the Western Cape were rejected by the DME. The Company has commenced discussions with the parties who secured the Damsfontein and Bloemfontein prospects to determine whether there is a basis for the Company to participate in these licence areas. Although Western Uranium has not received any confirmation from the DME in respect of the Flagfontein and Rietkuil area applications, the Board of Brinkley Mining has reached the view that these areas have probably been granted to another party given the length of time since these applications were made by Western Uranium.

Current Cash Position

As at 31 January 2007, Brinkley Mining had approximately US$22 million cash in hand.

For further information, please contact:

Brinkley Mining Plc
Gerard Holden, Chairman
Donald Strang, Finance Director
Bruce Stewart, Investor Relations
Tel +44 (0) 207 016 5108
Fax +44 (0) 207 016 5101

Beaumont Cornish Limited
Michael Cornish, Chairman
Tel +44 (0) 20 7628 3396
Fax +44 (0) 207628 3393

Parkgreen Communications
Justine Howarth
Tel +44 (0) 20 7851 7480

Arbuthnot Securities Limited
John Prior
Tel +44 (0) 207 012 2000

Qualified Person

Kiran Morzaria has reviewed the information contained in this announcement. Kiran Morzaria holds a B. Eng Honours degree in Industrial Geology and a MBA in Finance. Kiran is a Non-executive director of Brinkley Mining. He has compiled, read and approved the technical disclosure in this regulatory announcement.

Notes on the Waterval Mineral Resource Calculation

The most appropriate mining methodology for the Waterval orebody was not considered in the Mineral Resource calculations. The Mineral Resource calculations presented here are therefore in-situ over the width and based on the borehole field logs. No dilution has been applied to the Resource figures to account for dilution that will necessarily take place during mining. The Mineral Resources tabled above is only that area which encloses the area from which data is available. To this Mineral Resource SRK recommend that a cut-off value of 0.15kg/tonne is applied. This value has been based on basic assumptions including a working cost of ZAR200/tonne, and a commodity price of US$100/lb U3O8.

Resource Estimation Methodology:

• SRK was supplied with borehole collar positions, down-hole assay grade values and the GAP geophysical logs. This data was imported into Datamine and the drill hole data was plotted as X,Y and Z co-ordinates.

• The mineralized horizon to which a sample belongs was identified by Western Uranium and supplied in the database.

• The U3O8 assay values and U3O8 radiometric equivalent values were composited across the total width of the mineralised horizons.

• SRK constructed a seam type Datamine model for each horizon. The position of the top and bottom of each horizon within in each borehole was extracted.

• Block models were then developed between these paired surfaces, with a single block developed across the reef thickness.

• The grades for each block were multiplied by the length in cm to yield cmkg/tonne U3O8. The grade, length and accumulation variables are positively skewed and are considered to approximate a log-normal distribution. The semi-variograms were calculated on the natural logarithm of the accumulation variable, as this yielded a more stable and easily interpretable structure.

• For H2 it was not possible to create reasonable variogram models, hence it was not possible to generate a Kriged estimate, and an Inverse Distance Squared estimate was generated. As part of the estimation process, these areas were isolated and only samples from within their limits were used to estimate grade values into the block model representing these areas.

Glossary

Mineral Resource
A concentration or occurrence of material of economic interest in or on the Earth's crust in such form, quality and quantity that there are reasonable and realistic prospects for eventual economic extraction. The location, quantity, grade, continuity and other geological characteristics of a Mineral Resource are known, estimated from specific geological evidence and knowledge, or interpreted from a well constrained and portrayed geological model. Mineral Resources are subdivided, in order of increasing confidence in respect of geoscientific evidence, into Inferred, Indicated and Measured categories.

Inferred Mineral Resource
That part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that may be limited or of uncertain quality and reliability.

Indicated Mineral Resource
That part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed.

SAMREC Code
South African code for reporting Mineral Resources and Mineral Reserves.

Down-the-hole Geophysical Survey Horizon
The underground exploration of an area in which geophysical properties and relationships unique to the area are mapped by lowering a geophysical probe down previously drilled holes. A specific layer or stratum of soil or subsoil in a vertical cross section of land.

Palaeochannel
An old river bed formed at a time when the geology and climate of an area was different.

Cut-Off
The lowest grade of material that can be mined and processed considering all applicable costs, without incurring a loss or gaining a profit.

U3O8
A uranium oxide, generally the form in which uranium is traded commercially.

Appendix - H3 Detail Borehole Location Plan and Resources Classification Area can be viewed as a link to this announcement: